Close Menu
    What's Hot

    FarmXic Deploys Soilless Farming Kits to Power Urban Agriculture in Nigeria

    May 19, 2025

    South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

    May 16, 2025

    Unlocking Africa’s Digital Trade Future: Matta and the Rise of Integrated Marketplaces

    May 14, 2025
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

      May 16, 2025

      Navigating Challenges in the African Air Cargo Industry

      March 5, 2025

      Driving Growth: African Logistics Sector Harnesses AfCFTA’s Potential

      January 20, 2025
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Unlocking Africa’s Digital Trade Future: Matta and the Rise of Integrated Marketplaces

      May 14, 2025

      NjiaPay – Bridging Africa’s Fragmented Payment Ecosystem

      May 12, 2025

      Ghana’s Tendo Secures Backing to Scale Inclusive E-commerce Platform

      May 5, 2025
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      DP World and Nedbank Elevate Trade Finance in Africa

      Finance Trade September 18, 2024
      Recent

      DP World and Nedbank Elevate Trade Finance in Africa

      September 18, 2024

      Arab Coordination Group commits $50 billion for Africa’s sustainable development

      November 13, 2023

      MENAT to see investment flows increase substantially

      September 4, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business & Trade

    South African Revenue Service records USD 1.09 billion trade balance surplus for September

    November 3, 20222 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    SARS
    South African Revenue Service records USD 1.09 billion trade balance surplus for September.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The South African Revenue Service (SARS) reports that September’s trade surplus is almost half that of the same period in 2021.

    SARS has recorded a preliminary trade balance surplus of ZAR 19.70 billion (USD 1.09 billion) in its trade statistics for September 2022. This includes trade data with Botswana, Eswatini, Lesotho and Namibia (BELN).

    SARS: Imports rising faster than exports

    The year-to-date (1 January to 30 September 2022) preliminary trade balance surplus of USD 9.49 billion (ZAR 175.42 billion) is a deterioration from the USD 18.76 billion (ZAR 346.88 billion) trade balance surplus for the comparable period in 2021. Exports increased by 22.0% year-on-year, while imports increased by 27.1% over the same period.

    The September surplus is attributable to exports of USD 10.36 billion (ZAR 191.56 billion) and imports of USD 9.3 billion (ZAR 171.86 billion). Exports increased by USD 940 million (ZAR 17.37 billion) (10%) between August and September 2022, while imports increased by USD 210 million (ZAR 3.88 billion) (2.3%) over the same period.

    Exports for the year-to-date (1 January to 30 September 2022) increased by 12.8% to USD 28.09 billion (ZAR1 519.02 billion) from USD 18.75 billion (ZAR 346.54 billion) over the same period during 2021. Imports for the year-to-date of USD 18.6 (ZAR 343.60 billion) were 34.4% more than the USD 54.1 billion (ZAR 999.66 billion) imports recorded during the same period in 2021. The cumulative trade balance surplus for 2022 is USD 9.49 billion (ZAR 175.42 billion).

    Exports up by 22%, imports by 27%

    On a year-on-year basis, the preliminary trade balance surplus for September was a deterioration from the USD 1.18 billion (ZAR 21.82 billion) recorded in September 2021. Exports of USD 10.37 billion (ZAR 191.56 billion) were 22% more than the USD 8.03 billion (ZAR 157.03 billion) exports recorded in September 2021. Imports of USD 9.30 billion (ZAR 171.86 billion) were 27.1% more than the USD 7.32 billion (ZAR 135.21 billion) imports recorded in September 2021.

    The August 2022 preliminary trade balance surplus was revised downwards by USD 530 million (ZAR 0.98 billion) due to the ongoing Vouchers of Correction (VOC). The revision was from the preliminary trade balance surplus of USD 390 million (ZAR 7.18 billion) to the revised trade balance surplus of USD 340 million (ZAR 6.20 billion).

    South Africa is in need of low carbon options regarding electricity generation, according to a recent report by the World Bank.

    Revenues SARS South Africa
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleSpotter gains funding from UM6P Ventures
    Next Article South African passport fees increase

    Related Posts

    Infrastructure Trade

    South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

    May 16, 2025
    Business & Trade Trade

    Unlocking Africa’s Digital Trade Future: Matta and the Rise of Integrated Marketplaces

    May 14, 2025
    Business & Trade

    NjiaPay – Bridging Africa’s Fragmented Payment Ecosystem

    May 12, 2025
    View 1 Comment

    1 Comment

    1. Pingback: South African passport fees increase

    Leave A Reply Cancel Reply

    LATEST STORIES

    FarmXic Deploys Soilless Farming Kits to Power Urban Agriculture in Nigeria

    May 19, 2025

    South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

    May 16, 2025

    Unlocking Africa’s Digital Trade Future: Matta and the Rise of Integrated Marketplaces

    May 14, 2025

    NjiaPay – Bridging Africa’s Fragmented Payment Ecosystem

    May 12, 2025

    Flutterwave CEO Urges Unified African Trade

    May 7, 2025
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.